Question

One of the advantages of having a savings account is that the money can be used for emergency purposes, whereas money in bonds, CDs, or investments may not be readily available.
TRUE OR FALSE

Answer 1

Answer:

TRUE  is the correct answer.

Explanation:

One of the advantages of having a savings account is that the money can be used for emergency purposes, whereas money in bonds, CDs, or investments may not be readily available is true.

When you require your money at the emergency condition in case of CD, investments and bonds you may get less cash  than you have invested or you need to pay penalty for the early withdrawal whereas in case of saving account you can withdraw your money at emergency condition without any loss or without any penalty.

Savings accounts are the safest way to save money and to earn interest in the cash deposited.

Advantages of saving account

• In saving accounts your deposited money is safe and it also gives interest.

• In saving accounts, money can be kept safe and the money can be used at the time of requirement or emergency.

• Saving account can be open at very little cash.

 

Answer 2

TRUE. Hope this helps!